Southern Silver Exploration (SSV.V) is working on its 10,000 meter drill program and we can expect the company to continue to release exploration updates throughout the next few months. In one of those updates, published earlier this week, Southern Silver reported on hole 125, which was drilled on the La Bocona target and the new assay results help to provide context on the historical holes from 2015 (returning 3.9 meters true width of 1093 g/t Silver-equivalent and 4.8 meters true width of 378 g/t silver-equivalent).
Hole 125 was interesting as it intersected two distinguished and relatively thick zones of polymetallic mineralization. At a depth of 23.8 meters down-hole, the drill bit intersected 28.5 meters of 201 g/t AgEq (the true width of the 23.8 meters is currently unknown) including two higher grade intervals of 2.8 meters containing 552 g/t AgEq and 3.4 meters containing 377 g/t AgEq.
Just a little bit deeper, at about 217 meters down-hole, an additional 19.8 meters (this time the true width could be defined, at 13 meters) with 308 g/t AgEq including a 4 meter (true width) interval containing 704 g/t AgEq. An interesting interval, and Southern Silver actually completed additional sampling and is waiting for the lab to report back on an additional 35 meters of the same hole. Additionally, assays are pending for two more holes at Bocona while an additional four holes have tested the down-dip projection of the La Bocona chimney, where artisanal miners have taken out an estimated 400,000 tonnes of rock up to a depth of 200 meters.
75% of the 10,000 meter drill program (which is aiming to increase the known resource by about 30%) and drilling has been put on hold for the Christmas break and should resume in January. Several holes are still at the lab, so we should see more assay results soon.
Disclosure: The author has a long position in Southern Silver but has taken some profits off the table. Southern Silver is a sponsor of the website. Please read our disclaimer.